If you have significant assets and you are setting up an estate plan, you have a number of different legal topics to explore. For example, you need to think about the way in which you will distribute your estate among beneficiaries and many people make contributions to charities. However, there are other issues that people need to consider when creating an estate plan, especially if they have a high net worth, such Read More

You feel you need help handling your financial and legal matters and want to ask for assistance from someone you trust, such as a grown child or a close friend. This person may be willing to help, but legal restrictions prevent him or her from gaining the necessary access to your accounts and records. A power of attorney grants your chosen agent the authority to help you manage your affairs. It also allows him or her Read More

Circumstances change. Goals change. Relationships change. That’s why estate planning is very rarely a “one-and-done” deal. As your life progresses, it is very important to periodically review your estate planning and make sure that it still suits your needs in the best way possible. Sometimes, as certain things change, it is necessary to rearrange. When a life-changing event occurs and you need to update your estate Read More

It can be intimidating to consider the distribution of your assets and other end-of-life decisions. No matter your health, wealth or age, it is wise to take the time to craft a comprehensive estate plan. And while it might at first seem confusing, there are only a handful of documents that must be finished to create the foundation of a strong plan. While every estate plan is unique based on the assets and individuals Read More

When you have multiple children, estate planning can become more complex. If you are like most parents, you do not want your children to argue or fight over their inheritance. Without a plan in place, your children may be the ones who divide your assets. While it is simpler when the adult children have a good relationship, the stress can put tension on even close relationships. AARP suggests that older adults prepare Read More

If you care for a dependent with special needs, you may worry about who will care for them when you no longer can. This can feel overwhelming, but financial stability can go a long way to preserve their quality of life. Unfortunately, state-appointed guardians and even family members may exploit assets left for special needs and disabled people. Trusts provide better opportunities for you to protect their financial Read More

Many people are aware that estate planning for asset protection and distribution is important. However, not as many understand that preparing for medical situations should also be a part of the plan.  An advance directive for health care outlines a patient’s wishes in the event of illness or injury in which case the patient is unable to express these wishes to the medical team. It also involves naming a trusted agent Read More

Did you know that October is Special Needs and Autism Awareness month? This year, the J. Kevin Tharpe, P.C. team is celebrating by sharing some important information about estate planning. When you have special needs yourself or you have a loved one with special needs, there are some unique factors you need to keep in mind when creating your plan. 1. Benefit eligibility Some benefits that your loved one with special Read More

You have noticed that something has not been right the last few times you visited your father who now lives in a nursing home. He seems more agitated and skittish than usual. There is fear and anxiety along with some bruises on his face and arms. This is a concerning situation. You had heard stories about elder abuse and, initially, hesitated in placing your father in a nursing home. Now, your intuition tells you Read More

The probate process can be daunting, and many people create their estate plan to limit the impact that probate can have. How can probate impact your estate? Probate can be costly. Because of court involvement, a wide variety of different fees apply to the probate of an estate. Court fees, appraisal fees for valuable assets like houses, businesses or boats, attorney costs, executor fees and more may apply. The probate Read More